PVR and INOX Leisure have received clearances for their merger from Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE). The company has received observation letter with 'no adverse observations' on June 20, 2022 from BSE and observation letter with 'no objection' on June 21, 2022 from NSE respectively in relation to the scheme of amalgamation.
A 'no objection' certificate from the exchange is a mandatory step for getting clearance from the National Company Law Tribunal and other regulatory authorities for any scheme of amalgamation. As per the agreement, INOX will merge with PVR in a share-swap ratio of 3 shares of PVR for every 10 shares of INOX.
PVR is the largest and most premium film exhibition company in India. Since its inception in 1997, the brand has redefined the way entertainment is consumed in the country.
